Blockchain News

Smart contracts, dApps, and the rise of cryptocurrencies like Bitcoin, Ethereum, Polkadot, Cardano, and more have spawned a new breed of use cases and services that run on public and private blockchains.

This new era of technology has taken the world by surprise, offering businesses, regulators, and ordinary users a chance to explore uncharted territories. A blockchain is a digital database distributed across a network of special computers called nodes. These nodes have a copy of the database and can seamlessly communicate. Anyone can join the network as a node operator and view the ledger’s contents. In essence, a blockchain is a digital ledger that records and stores data, which can be seen and accessed by everyone in the network in real-time. This distributed model assures the trustworthiness of the data because it’s impossible for one party to alter the data without the knowledge of other node operators, typically incentivized to keep the veracity of transactions.

How a Blockchain Works

Blockchain works by creating a network of computers that maintain a shared database. When a new piece of data, called a “block”, is created, it’s surrounded by a mathematical “hash” that makes it unique to that point in the network. Only the network can verify the data’s accuracy if a block of transactions is needed. This verification mechanism is the “hash”. It helps “chaining” the new block with the longer block of verified transactions, forming a blockchain. Once a block is “chained”, it is impossible to reverse posted transactions. This is why all blockchain transactions in a public database are considered immutable. Notably, any alterations in the block’s content would produce a different hash, alerting the network that data has been tampered with and is invalid. Its database will constantly grow as long as the network finds use and new blocks are added.

Blockchain Use Cases

Blockchain provides a secure and transparent platform for executing smart contracts. Smart contracts are pieces of code that automatically trigger when certain conditions are met. This minimizes the risk of fraud and reduces the cost of contracting. A blockchain can find application in regulatory compliance where it can find immense use in tracking assets, managing key processes, and auditing transactions. Furthermore, a blockchain can be used for storing data. As observed, publicly distributed blockchains provide a more efficient and secure way to store data. Stored data are openly and transparently accessible to all users. The blockchain can also find use in creating decentralized identity management systems. In this arrangement, the ledger can authenticate users, manage access to applications and store personal data. When integrated with an identity management system, the blockchain can be further used to keep data private. Data cannot be accessed or altered by third parties or organizations. At the same time, the blockchain can be used efficiently in supply chain management, where the technology can drastically improve logistics. Ordinarily, supply chains are complex and have many variables that make tracking challenging to use in traditional systems. This could make blockchain an appealing alternative.

China’s Bank of Communication Issues Industry’s First Blockchain Asset Securitization Platform
China’s Bank of Communication Issues Industry’s First Blockchain Asset Securitization Platform

This is the first blockchain-based residential mortgage-backed securities platform (RMBSs).  All involved parties will be able to track assets, manage cash flow and other businesses on the DLT platform.  Other Chinese firms have already started their operations on the blockchain to enhance efficiency. The giant Chinese Bank of Communications has issued residential mortgage-backed securities (RMBSs) […]

September 30, 2018
SEC Files Charges Against Austria-based Cryptocurrency Firm
SEC Files Charges Against Austria-based Cryptocurrency Firm

1 Pool ltd. has had charges filed against them by the Securities and Exchange Commission for violation of laws guiding security swapping through the use of cryptocurrency.

September 28, 2018
Republic Protocol (REN) Launches Own Decentralized Dark Pool Cryptocurrency Exchange, RenEx
Republic Protocol (REN) Launches Own Decentralized Dark Pool Cryptocurrency Exchange, RenEx

Republic Protocol (REN), an open source protocol powering dark pool cryptocurrency trading platforms, has created RenEx.

September 28, 2018
Wall Street and US Crypto Leaders to Debate Crypto Regulation
Wall Street and US Crypto Leaders to Debate Crypto Regulation

U.S lawmakers led by Rep. Warren Davidson (R), are set to hold a roundtable discussion with Wall Street officials, venture capitals and crypto-based startups, concerning how to regulate blockchain.

September 26, 2018
Iceland Seeks to Diversify to Pure Blockchain Business as Bitcoin Mining Frenzy Dies
Iceland Seeks to Diversify to Pure Blockchain Business as Bitcoin Mining Frenzy Dies

The chairman of Reykjavik-based Borealis Data Center Halldór Jörgensson,  has told the Red Herring news site that the demand from local crypto and blockchain facilities.

September 25, 2018
Ark – Blockchains Connected
Ark – Blockchains Connected

With the upcoming Core V2 rehaul of the entire Ark ecosystem, we thought it was time to do a deep dive for our readers into this exciting and highly ambitious projects.

September 23, 2018
SEC Delays Decision on Bitcoin ETF Application Again
SEC Delays Decision on Bitcoin ETF Application Again

The Securities and Exchange Commission (SEC) on Thursday, September 20, 2018, published an official statement postponing the much awaited  decision regarding the CBOE Bitcoin ETF application.

September 21, 2018
Crypto Pioneer David Chaum is Back with Elixxir, Calls it a Better Bitcoin
Crypto Pioneer David Chaum is Back with Elixxir, Calls it a Better Bitcoin

The man who created Ecash over a decade ago has announced his plans to improve on Bitcoin’s biggest failure-speed.

September 21, 2018
France Sets New Laws for ICOs
France Sets New Laws for ICOs

A new article from the Business Growth and Transformation bill dedicated to initial coin offerings has been accepted by the French government.

September 16, 2018
 Crypto Exchange and Spot Derivative Trading Platform, Seed CX Raises $15 Million in Series B Funding
 Crypto Exchange and Spot Derivative Trading Platform, Seed CX Raises $15 Million in Series B Funding

Seed CX, a Chicago-based digital assets exchange, that also offers spot and derivatives trading and settlement to institutional investors, has successfully raised $15 million in its series B funding round.

September 14, 2018
Report: Morgan Stanley to offer Bitcoin Swap Trading
Report: Morgan Stanley to offer Bitcoin Swap Trading

Morgan Stanley, a US investment bank handling over 482 billion USD in assets are planning to get into Bitcoin (BTC) derivatives, a source told Bloomberg

September 13, 2018
U.S. Judge Classifies Two ICOs as Securities: Man Held
U.S. Judge Classifies Two ICOs as Securities: Man Held

A federal judge in Brooklyn has ruled that prosecutors may proceed with a case against one man running scam ICOs for breaking securities laws.

September 12, 2018